NEW YORK, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Outset Medical, Inc. ("Outset Medical” or the "Company”) (NASDAQ: OM). Outset Medical is a medical technology company that distributes the Tablo Hemodialysis System (the “Tablo”), a dialysis machine that was cleared by the FDA for patient use in the home in March 2020.
If you purchased or otherwise acquired Outset Medical common stock between September 15, 2020 and June 13, 2022, inclusive (the “Class Period”) and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than September 6, 2022 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery.
A class action lawsuit was filed on behalf of investors who purchased Outset Medical during the Class Period alleging that the Company and certain executives violated the Securities Exchange Act of 1934 for failing to disclose that Defendants had “continuously” made improvements and updates to Tablo over time since its original clearance” that required new clearance by the U.S. Food and Drug Administration's (FDA) pursuant to an additional 510(k) application.
On June 13, 2022, after the market closed, Outset Medical announced that it halted shipments of the Tablo pending the FDA’s review and clearance of an additional 510(k) application the Company had submitted for changes made since the device's original clearance in March 2020.
The first trading day following this news, the price of Outset Medical stock fell $6.95 per share, or 34%, to close at $13.46 per share on June 14, 2022.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.
If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
